Why should governments accept Crypto currencies?

[qumeijia]

This actually was already answer by your self why government should accept Crypto currency and why government is trying to oppose it. What you mentioned is one of many reasons government oppose Crypto. There are many reason of opposing and accepting Crypto currency. If you see that it is because government want to hide the corrupt, it means you underestimate to government.
I believe that there are strong reason that probably not publish on press.

[1715448665]

1715448665

[1715448665]

1715448665

[1715448665]

1715448665

[1715448665]

1715448665

[1715448665]

1715448665

[Ann Impas]

Corruption can cover anykind of system, even blockchain, bitcoin or any form of cryptocurrency. The thing that I can see in bitcoin or blockchain is that all transactions are traceable regardless it is anonymous in the first level of security. If transactions are traceable, the only thing to solve is who ows that transaction which can be in my opinion with a deeper skills in security and other option can be manage to track down. That is why corrupt government official don't want this.

[Magkirap]

Government is not against crypto if they can regulate it. They need to get taxes from people hiding their wealth in crypto. The reason why bitcoin was created is to let go from a corrupt centralized system and yet, almost all of the exchanges are already regulated by the government and even crypto holders are being taxed.

When it comes to the government laundering money using crypto that would be a risk for them since blockchain technology is made public and everyone can view transactions being made.

Sometimes people can't accept changes in technology that can possibly ruin their ways of stealing money from the people. 

The reasons why still government not allow or accept cryptocurrencies is they can't control or regulate because of its being decentralized. If the government wil allow cryptocurrencies many people will use it and the government will be have low funds because it is tax free.

[Allura74]

Government is not against crypto if they can regulate it. They need to get taxes from people hiding their wealth in crypto. The reason why bitcoin was created is to let go from a corrupt centralized system and yet, almost all of the exchanges are already regulated by the government and even crypto holders are being taxed.

When it comes to the government laundering money using crypto that would be a risk for them since blockchain technology is made public and everyone can view transactions being made.

Sometimes people can't accept changes in technology that can possibly ruin their ways of stealing money from the people. 

The reasons why still government not allow or accept cryptocurrencies is they can't control or regulate because of its being decentralized. If the government wil allow cryptocurrencies many people will use it and the government will be have low funds because it is tax free.

Right mate, being decentralized its hard for them to control or even collect income tax for every individual gaining income from bitcoin. One thing I see why they are hesitant on bitcoin is because it makes people rich and can possibly affect the countries economic performance since it is usual that a rich people can buy many things and thus changing market supply and in effect the price of commodities will go higher and can make inflation go higher.

[rikybrosh]

We are led to believe that almost all governments are corrupt and that most officials and even leaders of the world are bought.

We saw this for instance with the US elections where rumours are doing the rounds that massive amounts of money were channelled from foreign countries to influence the outcome of the election. This money had to be laundered through shell companies via Banks and complex money laundering systems.

All of this leaves paper trails and this can later be followed and investigated to find the true origin of this money.

Now think about this, why would "corrupt" governments want to appose Bitcoin and Crypto currencies, if they can use it to hide their "corrupt" practices? Would it not make sense just to allow it and then use it to further their political aspirations?

The push back from these corrupt governments does not make any sense. Could it be that they know that Bitcoin and Crypto currencies are not "anonymous" at all and that these transactions can be traced and for this reason they are apposed to it?

Curious to know what you are thinking. 

The current condition of economy system are good for those who have power(money). I don't think that all governments are bad people, I pretend that some of governments member are good people who trying to protect their citizens from those "big hands". World is played now, I realize it. There is some chance that government will accept bitcoin as those good people in government will still try to fight, it's not only for the case of bitcoin acceptance. Actually bitcoin can give tax income for countries which regulate it, in this case it is possible. This is the war of good and bad people in this world.

[thesmallgod]

I think the main reason why government is against crypto is because of it anonymity. Although to me crypto is not totally anonymous but it can be difficult and expensive to trace. In some countries such as England where the major source through which government generate revenue is through paying of tax. such country will never want to adopt crypto because it will be difficult to manage the tax system even though i still believe there are government inside a government that use crypto to steal money from the government

[SoiledDove]

I think governments dread crypto currency because it curbs their power. And being able to control money is a huge power. If the government doesn't control money and business, what is left of it? Banks give governments power. Cryptocurrency takes it away.

[Pan Troglodytes]

We are led to believe that almost all governments are corrupt and that most officials and even leaders of the world are bought.

We saw this for instance with the US elections where rumours are doing the rounds that massive amounts of money were channelled from foreign countries to influence the outcome of the election. This money had to be laundered through shell companies via Banks and complex money laundering systems.

All of this leaves paper trails and this can later be followed and investigated to find the true origin of this money.

Now think about this, why would "corrupt" governments want to appose Bitcoin and Crypto currencies, if they can use it to hide their "corrupt" practices? Would it not make sense just to allow it and then use it to further their political aspirations?

The push back from these corrupt governments does not make any sense. Could it be that they know that Bitcoin and Crypto currencies are not "anonymous" at all and that these transactions can be traced and for this reason they are apposed to it?

Curious to know what you are thinking. 

First of all I don't agree that there is a push back of crypto. Some governments accept its existence and make nice profit from this (from taxes or from confiscations, vide US or Bulgaria)

Then, I don't agree that bitcoin (pseudonymous not anonymous in its deepest nature) would allow to hide anything from public. Actually, it makes every financial operation transparent.

Lastly, the pseudonymous nature of bitcoin and inability of citizens to hide their transactions from government makes it ideal for governments. So again, we are back at sqare one - governments accept its existence, don't push it back.

Summing up, I don't agree with the OP on many levels

[Ghypatt]

You see, this can be a reason for governments to accept Btc but I do not think any government would want to accept Btc just on the grounds of this. After all, we are all aware the nature of transparency Btc presents too.

[tytanhamon04]

I think bitcoin has huge potential, but the government may be afraid to give it power because it sees it as a global threat. But I think it's inevitable ! There must be democracy in the world, and the man himself must make a decision ! I think that eventually the government decides to legalize it all over the world as something that can't be controlled, should be kept close, that was minimal to control it !

[Sarastiche]

Government  need to accept cryptocurrency in other to take advantage of tax deduction from the space and also to build trust in the space for investors, Government are against  cryptocurrency as they are not in charge of the happening  in the space, government will get involve when they can control and regulate the market trend and what goes on in the space.

[mithon2017]

Government should accept cryptocurrency.because it's has lots of advantages.Bitcoin is the best demanding cryptocurrency.Bitcoin can change our world economy only few seconds.it's has capability change our country Economy and  it can get rid of unemployment problem. so every country should accept crypto currency and using its opportunities. I believe, in future Crypto currency will more useful and more popular

[saumang2m]

If the government accepts Bitcoin. So this will benefit both the government and the people. Because any country has accepted Bitcoin. The economies of those countries have grown stronger.

[wxa7115]

The governments themselves knows that cryptocurrencies are going to be the future of the world because everyday people try to integrate it with something different and they dont want to accept. One thing they have to know is that, crypto is the future and the revolutionizer of the world and should be accepted.

Governments are not interested in the progress of humanity they only care about keeping their power and nothing more, it is obvious that something like cryptocurrencies are going to improve the life of people by giving them a better form of money that cannot be falsified and that cannot be taken away in any way or form, but that will also mean that the enormous control they have over the population will weaken and that is something they hate so they will oppose cryptocurrencies.

This creates a dilemma among people especially those that are very patriotic, do they support what it is best for the people in general or do they support their government? And many people will choose to support the people and not their governments.

[javainn]

the government should think about the benefits of cryptocurrency not only the impact it causes, because I believe if the cryptocurrency still has significant benefits. that is the government's work to find benefits that cryptocurrency has so that the government can accept cryptocurrency.

[maianh09]

We are led to believe that almost all governments are corrupt and that most officials and even leaders of the world are bought.

We saw this for instance with the US elections where rumours are doing the rounds that massive amounts of money were channelled from foreign countries to influence the outcome of the election. This money had to be laundered through shell companies via Banks and complex money laundering systems.

All of this leaves paper trails and this can later be followed and investigated to find the true origin of this money.

Now think about this, why would "corrupt" governments want to appose Bitcoin and Crypto currencies, if they can use it to hide their "corrupt" practices? Would it not make sense just to allow it and then use it to further their political aspirations?

The push back from these corrupt governments does not make any sense. Could it be that they know that Bitcoin and Crypto currencies are not "anonymous" at all and that these transactions can be traced and for this reason they are apposed to it?

Curious to know what you are thinking. 

If the government accepts Crypto it will get a lot of benefits from this. You can see that crypto taxation through exchanges could help the government collect a tremendous amount of tax money, which could open up opportunities for a new economic sector.

[Sam San]

Governments accept cryptocurrencies because these governments who are embracing the technology know what cryptocurrency can bring to their economy. I believe, one of these countries have already expressed their gratitude on cryptos as their economy has improved than before.

just cryptocurrency and ICO do not have much changes, but new technologies improve business processes and if they are accepted by the population, the movement and implementation is fast.

[Flor1982]

Because Bitcoin is proven helping the economy of every nation like it helps to reduce the unemployment issues which is the most common problem of the whole world that if the unemployment will reduce then the people purchasing power will be strong making them to help the economy to become strong and stable too. There are lot of other reasons that every government should support Bitcoin and there is no government claim that after they legalized Bitcoin their economy suffer.

[adekunleoyediran]

its a fast and speedy means of carrying out transaction in no time coupled with cashless policy. keeping individuals safe and easy access to volatile funds that can be used all over the world

[DisWhale]

Cryptocurrency and the Blockhain technology offers incredible benefits to both the people and the country as a whole - it has got the tendency of boosting the economy of the country. Cryptocurrency as a form of payment eliminate corruption and breed trust due to the transparency in the storage of all transactions of the Blockchain. Cryptocurrency and Blockchain offers job opportunities to the people (mining, bounty hunting, trading, developers, bounty managing etc). This will enhance the economy of the country.